Before issuing a certificate of authority to a health maintenance organization, the commissioner shall require that the health maintenance organization:

1. (1) have an initial net worth of at least one million five hundred thousand dollars ($1,500,000); and
2. (2) maintain, after issuance of the certificate, at least the minimum net worth required under section 3 of this chapter.

As added by P.L.26-1994, SEC.25.